NEWPORT BEACH, Calif.--(EON: Enhanced Online News)--Metropolitan West Capital Management, LLC (“MWCM”) has expressed strong
opposition to the proposed merger of Pike Corp. (NYSE: PIKE) with
entities controlled by Court Square Capital Partners (CSCP) and J. Eric
Pike, the Company’s current CEO. The MWCM portfolio management team,
which currently holds approximately 15% of the outstanding common stock
of Pike Corp. (“the Company”), believes the Company has not made an
adequate case in favor of the Merger; that the Merger undervalues the
Company; and that the Merger is not in the best interests of the
Company’s shareholders.

MWCM, as a long-standing shareholder of Pike Corp., recently expressed in
a letter to the Company’s Board of Directors serious concerns about
the reasons for the merger and the merger price. The MWCM team has
repeatedly noted in communications to the Company that negotiations with
CSCP occurred over a period of time when the Company’s stock price was
declining, and that the final sale price was arrived at when the stock
was at or near a 12-month low. The MWCM team does not believe the merger
price reflects the fair value of the Company’s shares at this time.

MWCM has been a patient and supportive investor in the Company for more
than eight years. During that time the Company has made investments to
diversify geographically and through lines of products and services,
with an eye toward future growth and earnings stability. The MWCM team
believes that the Company is currently positioned to begin recognizing
the benefits of that strategy and that the Company’s investors should
reap those benefits as well. The team believes that the pending merger
will deprive MWCM and the Company’s other long-time investors of the
benefit of their patience and loyalty.

As the Company’s largest institutional shareholder, Metropolitan West
Capital Management, LLC urges the Board and the Independent Committee to
reconsider and withdraw their support of this merger.